Dynamics NAV - Recurring General Journals and Reversing Entries
Learn about recurring general journals and reversing entries in Dynamics NAV with our video guide.
If you post certain transactions frequently with little or no changes, the Recurring Journal allows Dynamics NAV to process entries according to your specification. To view the Recurring General Journals type in ‘Recurring General Journals’ into the search bar at the top of the page. Fill in the recurring method. This provides the user with the option of adjusting amounts used in the recurring journals. The options are fixed, variable, balance or the reversal of these methods.
The recurring frequency is related to how often the transaction will occur, this could be measured in days, weeks, months or even years. Enter a document number and set the Account Type and Account Number. Enter an amount. Create a new line for the balancing account and enter the balancing account number. You can now post the journal as the lines are balanced, and a weekly recurring entry will now be posted effecting both accounts you specified.
When an incorrect entry is posted, they can be reversed in a corresponding register. Open General Journals and select the 'Default Journal Batch'. Click ‘Navigate’ and then ‘Ledger Entries’ and the history of dealing will then be displayed. Select the entry you want to reverse and select ‘Function’, ‘Reverse Transactions’ and select the entries you want to reverse. Once you have selected all of the entries you wish to reverse, select ‘Reverse Transaction’ from the ribbon and then ‘Reverse’ to apply this to your selected entries.